Bangladesh Bank's bizarre moves
Bangladesh Bank implements fiscal policies and is the watch-dog over institutions dealing in money. To date they have performed admirably.
Lately, they have failed twice. First, commercial banks were allowed into the stock market beyond their prescribed limits. Consequently share values flew high only to crash. In between, people intimately connected with the capital and money markets made fortunes, leaving millions pauperized. Will the inevitable “action” on the probe be mere eye-wash?
Secondly, more serious, is their sudden awakening from slumber to “sack” a person who alone has brought more prestige to our country than the whole bunch of 'luminaries' together. How could they allow a person to preside and run a peoples' bank “unlawfully” for 10 years? What incompetence? Before sacking him, shouldn't the FMs and Governors of BB from 2000 to 2011 be asked to show cause and shouldn't some senior heads in Banking Control roll?
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